Susan, a single taxpayer, owns and operates a bakery (as a sole proprietorship). The business is not

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Susan, a single taxpayer, owns and operates a bakery (as a sole proprietorship). The business is not a “specified services” business. In 2019, the business pays $100,000 in W–2 wages, has $150,000 of qualified property, and generates $350,000 of qualified business income. Susan has no other items of income or loss and will take the standard deduction. What is Susan’s qualified business income deduction?

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South Western Federal Taxation 2020 Corporations, Partnerships, Estates And Trusts

ISBN: 9780357109168

43rd Edition

Authors: William A. Raabe, James C. Young, William H. Hoffman, Annette Nellen, David M. Maloney

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Question Posted: Sep 18, 2019 01:27 PM

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Susan, a single taxpayer, owns and operates a bakery (as a sole proprietorship). The business is not

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Susans taxable income before the QBI deduction is 337800 her proprietorship ne...View the full answer

South Western Federal Taxation 2020 Corporations, Partnerships, Estates And Trusts

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